# ACC 291 UOP Course Tutorial / Tutorialoutlet

ACC 291 Entire Course (Uop)
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ACC 291 Week 1 Discussion Question 1
ACC 291 Week 1 Discussion Question 2
ACC 291 Week 2 Discussion Question 1
ACC 291 Week 2 Discussion Question 2
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ACC 291 Final Exam Guide (Uop)
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1)Hahn Company uses the percentage of sales method for recording bad debts expense. For the year, cash sales are \$300,000 and credit sales are \$1,200,000. Management estimates that 1% is the sales percentage to use. What adjusting entry will Hahn Company make to record the bad debts expense?
2) Using the percentage of receivables method for recording bad debts expense, estimated uncollectible accounts are \$15,000. If the balance of the Allowance for Doubtful Accounts is \$3,000 credit before adjustment, what is the amount of bad debts expense for that period?
3) Intangible assets
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ACC 291 week 1 Discussion Question 1 (Uop)
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How would you describe the entries to record the disposition of accounts receivables? What is their function****************************************************************************************************************
ACC 291 week 1 Discussion Question 2 (Uop)
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How are bad debts accounted for under the direct write-off method? What are the disadvantages of this method***************************************************************************************************************************
ACC 291 week 2 Discussion Question 1 (Uop)
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What are the differences among valuation,…

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# ACC 291 UOP Course Tutorial/ Tutorialoutlet

ACC 291 Final Exam Guide (New)For more course tutorials visit
www.tutorialoutlet.comACC 291 Final Exam Study Guide
Question 207
On January 1, a machine with a useful life of five years and a residual value of \$40,000 was purchased for \$120,000. What is the depreciation expense for year 2 under the double-declining-balance method of depreciationIFRS Multiple Choice Question 01
As a recent graduate of State University you’re aware that IFRS requires component depreciation for plant assets. A friend has asked you to succinctly explain what component depreciation means. Which of the following correctly describes component depreciationMultiple Choice Question 198
Given the following account balances at year end, compute the total intangible assets on the balance sheet of Janssen Enterprises.
Cash \$1,500,000
Accounts Receivable 4,000,000
Goodwill 2,500,000
Research & Development Costs 2,000,000
Explanation: Intangible Assets = Goodwill + Trademarks = 3,500,000

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Multiple Choice Question 146
Bonds with a face value of \$300,000 and a quoted price of 97? have a selling price of
Multiple Choice Question 188
Sparks Company received proceeds of \$423,000 on 10-year, 8% bonds issued on January 1, 2013. The bonds had a face value of \$400,000, pay interest annually on December 31st, and have a call price of 102. Sparks uses the straight-line method of amortization. What is the carrying value of the bonds on January 1, 2015
Multiple Choice Question
S. Lawyer performed legal services for E. Corp. Due to a cash shortage, an agreement was reached whereby E. Corp. would pay S. Lawyer a legal fee of approximately \$15,000 by issuing 8,000 shares of its common stock (par \$1). The stock trades on a daily basis and the market price of the stock on the day the debt was settled is \$1.80 per share. Given this information, the best journal entry for E. Corp. to…